In brief
In a showcase of resilience, China's economy grew by 5.2% year-on-year in the second quarter, outpacing expectations amid external pressures from U.S. tariffs and internal property market struggles. This growth figure surpassed the predicted 5.1% but fell short of the previous quarter's performance. The National Bureau of Statistics highlighted that manufacturing, which expanded by 6.4% owing to increased demand for technological products, played a crucial role in supporting this growth. Furthermore, while the services segment experienced gains, retail sales recorded a downturn, with June growth slowing to 4.8%. Although housing prices fell sharply in June, causing concerns in the real estate sector, analysts noted the economy's surprising resilience amidst these challenges. Looking ahead, economists believe government stimulus may be necessary to ensure that the country meets its 5% growth target, despite some suggesting that China's growth may dip below this threshold by year's end.
